New York, United States: The Report on Antimicrobial Susceptibility Testing Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Antimicrobial Susceptibility Testing Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors.
The global Antimicrobial Susceptibility Testing market gathered revenue around USD 4.01 Billion in 2020 and market is set to grow USD 6.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 7.1% during the prediction period 2021 to 2027.
Overview of Antimicrobial Susceptibility Testing Market Study
Antimicrobial Susceptibility Testing market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
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The antimicrobial susceptibility testing market consists of sales of antimicrobial susceptibility testing by entities (organizations, sole traders and partnerships) that are engaged in laboratory services that provide antimicrobial susceptibility testing. Antimicrobial susceptibility testing (AST) is a laboratory procedure done by clinical laboratory professionals to identify which antimicrobial specimen is specifically effective for individual patients.
The main types of antimicrobial susceptibility testing (AST) procedures are antibacterial testing, antifungal testing, antiparasitic testing and others. Antifungal susceptibility testing refers to the ability of a specific organism to grow in vitro in the presence of a particular drug.AST products that are used in the testing are manual antimicrobial susceptibility testing products, automated laboratory instruments, and other consumables. These are used for diagnostics, drug discovery and development, and epidemiology.
Antimicrobial susceptibility testing is used by hospitals and diagnostic centers, pharmaceutical and biotechnology companies, research and academic institutes, and clinical research organizations (CROs).
North America was the largest region in the antimicrobial susceptibility testing market in 2020.Asia Pacific is expected to be the fastest growing region in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rapid antimicrobial susceptibility testing is increasingly being used to avoid misuse of antibiotics and to provide effective treatment and this is emerging as a key trend in the antimicrobial susceptibility testing market. There are many ways to perform antimicrobial susceptibility testing in minutes or few hours. FISH (Fluorescence in situ hybridization) is mostly used in rapid antimicrobial susceptibility testing. The PNA-FISH applies peptide nucleic acid probes that allow rapid and specific binding, this process is applied in QuickFish technology (OpGen) it performs identification of microbial by targeting 16s RNA. For instance, the antimicrobial susceptibility testing system by Genefluidics Inc measures bacterial growth by quantifying 16s rRNA molecules using an electrochemical biosensor.
The rising incidence of infectious diseases globally contributed to the growth of the antimicrobial susceptibility testing market. Infectious diseases are caused by organisms like bacteria, viruses, fungi and parasites.
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COVID-19 Impact on Antimicrobial Susceptibility Testing Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Antimicrobial Susceptibility Testing market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Antimicrobial Susceptibility Testing market 2021 onwards. This trend will however continue through the course of the report’s assessment period
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Antimicrobial Susceptibility Testing market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Antimicrobial Susceptibility Testing market include:
Accelerate Diagnostics, Inc., Becton, Dickinson and Company, Biomerieux SA, Bio-Rad Laboratories, Inc., Bruker, Danaher Corporation (Beckman Coulter), F. Hoffmann-La Roche AG, HiMedia Laboratories, Merck KGaA (MilliporeSigma), Thermo Fisher Scientific.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Product Type
- Manual Products
- Automated Products
By Method Type
- Disks Diffusion
- Rapid Automation Method
By End User
- Hospitals & Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
Why Buy this Report?
The purpose of Nova one advisor’s Antimicrobial Susceptibility Testing market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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